Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation
By Marc Scarcella and Peter Kelso for the U.S. Chamber Institute for Legal Reform
Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation, shows that of $40 billion contributed to asbestos trusts between 2004 and 2016, $25 billion remain. In fact, of the 35 asbestos trusts operating as of early 2008, 21 of them are currently paying an average of only 60 percent of what they paid that year. The report also points out that most trusts have no contingency fee caps, and allow plaintiffs’ attorneys to collect 40 percent or more of claims paid out.
This research delves into the details of asbestos trust expenses and claim payment. The paper concludes that the depletion of trust assets will result in the systematic under-compensation of legitimate asbestos victims in the future if left unabated.
To request a complimentary copy of this paper, written by Roux’s Marc Scarcella and Peter Kelso of our Economic & Complex Analytics Practice, please click below:
Roux’s Economic & Complex Analytics (ECA) team is nationally recognized for its expertise in helping clients evaluate the legal, scientific, and financial risks associated with environmental, mass tort, and product liability litigation. Our ECA experts have analyzed a diverse set of environmental and product liability risks, including asbestos, benzene, talc, perfluorooctanoic acid (PFOA), polychlorinated biphenyls (PCBs), diacetyl, silica, isocyanate, pharmaceutical and medical devices, and many others. Overall, our analysts work to reduce risks for our clients through better forecasting and predictive modeling. Read more here
Complimentary Passes to The Knowledge Group Webinar Featuring Roux’s Peter Kelso
Friday, March 2nd, 3 – 5 pm (ET) • Post-Confirmation Liquidation and Litigation Trusts in Business Bankruptcies: What Lies Ahead in 2018
The Knowledge Group will be hosting a webinar entitled Post-Confirmation Liquidation and Litigation Trusts in Business Bankruptcies: What Lies Ahead in 2018, offering 2 CLE credits. Post-confirmation liquidation and litigation trusts are tools used to resolve certain claims and issues in a Chapter 11 case. To maximize the benefits of these trusts, organizations are required to have a well-drafted reorganization plan and corresponding trust agreement that carefully identifies the claims and interests being retained and deposited into the trust.
The Knowledge Group’s webinar presents a panel of distinguished professionals, including Roux’s Peter Kelso, an expert on bankruptcy reorganization and product liability litigation. Speakers will offer helpful insights on the fundamentals and updates surrounding this topic, share how to avoid arising jurisdictional issues, and provide best practices and tips for businesses to consider when engaging in post-confirmation liquidation and litigation trusts.
Roux Associates has a limited number of complimentary passes to this webinar. If you are interested in a complimentary pass, please click on the button below:
Roux’s Upcoming Presentations
- Thursday, March 1st
DRI Toxic Torts and Environmental Law Conference
“What, Me Worry? Environmental Reopeners” presented by Adam Love, Ph.D., Christopher Alviggi (Alliant Insurance Services, Inc.), and C. Nicole Sullivan (BASF Corporation)
- Tuesday, March 6th – Wednesday, March 7th
Emerging Contaminants Summit
Adam Love, Ph.D. to present “Outlook of Environmental Forensics in Distinguishing Sources of Perfluoroalkyl and Polyfluoroalkyl Substances”
- Thursday, March 15th
CICI’s Annual RCRA Training Seminar
Martin Hamper to present “RCRA Annual Refresher”
- Sunday, April 8th – Thursday, April 12th
Conference on Remediation of Chlorinated and Recalcitrant Compounds
Thomas Patterson to present “Limitations and Lessons Learned from Applying In Situ Chemical Reduction to Treat VOCs and Metals in a Geochemically Complex Aquifer”
Roux will be exhibiting and taking part in speaking engagements across the country. To find out more about our upcoming events, click on the links below!
Adam Love, Ph.D., Marc Scarcella, and Peter Kelso of Roux Associates to present
April 26-28; Orlando, FL
May 1-2; Galloway Township, NJ
Exhibiting – Booth 1035
May 16-17; Austin, TX
Exhibiting – Booth N1318
May 21-24; Las Vegas, NV
Panelist: Amanda Ludlow of Roux Associates
June 7-8; Albany, NY
Co-chair: Douglas J. Swanson, CEO of Roux Associates
June 20; New York, NY
Wednesday, April 26 – Friday, April 28 Members of Roux will be presenting at the Environmental and Emerging Claim Manager Association (EECMA) Annual Conference in Orlando, Florida. EECMA is focused on continued education about the issues surrounding environmental, asbestos, and other long-term exposure litigation that continue to challenge us and policyholders.
On Thursday, Day 1 of the conference, Roux’s Adam Love, Ph.D., Marc Scarcella, and Peter Kelso will be presenting “Get the Lead Out! Proactive Risk Measures in Response to America’s Environmental Crisis,” alongside Susan E. Smith, Esq. of Goldberg Segalla and Patrick Connor of CONNOR Environmental.
Click here to see the full conference agenda, and click here for registration details.
Thursday, November 3 – Friday, November 4 Peter Kelso, Principal at Roux, will be a panelist presenting on November 3rd at the 2016 CLM Southwest Conference in Dallas, Texas, hosted by the Claims & Litigation Management Alliance (CLM). He will be speaking in the first Environmental session entitled “Bankruptcy Trust Transparency – Garlock Decision.” Click here to read more about Peter Kelso and this session.
The conference will be offering five tracks: ADR, Environmental, Property, Employment Practices Liability, and Claims/Litigation Management. The diverse tracks offer interactive sessions where participants will learn about the latest developments and strategies, while networking with fellow industry professionals.
2016 CLM Southwest Conference Press Release